SITE Centers (SITC) Scheduled to Post Quarterly Earnings on Wednesday

SITE Centers (NYSE:SITC) will announce its earnings results before the market opens on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.87 per share for the quarter.

SITE Centers (NYSE:SITC) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $17.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.84 by $13.92. The company had revenue of $113.48 million during the quarter, compared to analysts’ expectations of $113.23 million. SITE Centers had a net margin of 91.77% and a return on equity of 23.05%. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.64 EPS. On average, analysts expect SITE Centers to post $3 EPS for the current fiscal year and $1 EPS for the next fiscal year.

SITE Centers Trading Up 2.3 %

Shares of SITC opened at $16.92 on Wednesday. The stock’s fifty day simple moving average is $61.67 and its 200 day simple moving average is $171.56. SITE Centers has a twelve month low of $16.27 and a twelve month high of $64.44. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $3.55 billion, a P/E ratio of 16.59 and a beta of 1.64.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Piper Sandler lifted their price objective on SITE Centers from $256.00 to $288.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley lifted their price target on shares of SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. StockNews.com began coverage on shares of SITE Centers in a research report on Monday, October 7th. They issued a “buy” rating for the company. KeyCorp restated a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. Finally, Wells Fargo & Company downgraded SITE Centers from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $68.00 to $19.00 in a report on Wednesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $97.18.

About SITE Centers

SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol SITC.